Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman Sells 9,103 Shares

Hagerty, Inc. (NYSE:HGTY) Director Robert I. Kauffman sold 9,103 shares of Hagerty stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $10.92, for a total value of $99,404.76. Following the completion of the sale, the director now directly owns 5,024,059 shares in the company, valued at $54,862,724.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hagerty Stock Performance

Shares of NYSE:HGTY opened at $10.92 on Friday. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 91.00 and a beta of 0.79. Hagerty, Inc. has a 52 week low of $7.63 and a 52 week high of $12.35. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $10.94 and a 200 day moving average of $10.37.

Hagerty (NYSE:HGTY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Hagerty had a return on equity of 15.68% and a net margin of 5.37%. The business had revenue of $313.23 million for the quarter, compared to the consensus estimate of $312.64 million. On average, sell-side analysts predict that Hagerty, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on Hagerty from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on Hagerty from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th.

Institutional Investors Weigh In On Hagerty

Several hedge funds have recently added to or reduced their stakes in the business. Meixler Investment Management Ltd. boosted its stake in shares of Hagerty by 21.2% during the 1st quarter. Meixler Investment Management Ltd. now owns 24,325 shares of the company’s stock worth $223,000 after acquiring an additional 4,250 shares in the last quarter. Vanguard Group Inc. raised its holdings in Hagerty by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,028,292 shares of the company’s stock valued at $18,559,000 after acquiring an additional 21,331 shares during the last quarter. Blue Trust Inc. acquired a new stake in Hagerty in the 2nd quarter valued at about $39,000. Dimensional Fund Advisors LP acquired a new stake in Hagerty in the 2nd quarter valued at about $139,000. Finally, Algert Global LLC acquired a new stake in Hagerty in the 2nd quarter valued at about $108,000. 20.51% of the stock is owned by hedge funds and other institutional investors.

About Hagerty

Hagerty, Inc provides insurance agency services worldwide. It offers motor vehicle and boat insurance products; and reinsurance products. The company provides Hagerty Media, which publishes contents through the Hagerty Drivers Club Magazine (HDC), video content, and social media channels; HDC that offers subscription based products and services, including HDC Magazine, automotive enthusiast events, proprietary vehicle valuation tools, emergency roadside services, and special vehicle-related discounts.